Agreed. basically when DF referred to creditors he was referring to Erwin. He hid the debt in the other company and it looks like he used stock to insure the debt load. So if I am reading this right, they are saying that the debt was not actually paid off just shuffled to another company and then he reported it as paid for IFCR.

I can see how they would consider this criminal. Basically HH will have to fix the books, show the real debt to income ratios and file for reinstatement. Overly simplified of course. At least if they would like to get their money back out of this and assuming that the acquisitions were legal. There may not even be an actual freight hauling company left to generate income if they dissect this and the deals were not legal or binding.